Copper

[Captain_Chaza]

Copper seems to have bounced off that 4 bucks ish region. Interesting. For now. Just need another high and higher low. I have zero confidence in these charts right now.

View attachment 153392

Ahoy there Captain Sean
What are doing up at 4.30 am?
Did you wet your bed?

LOL!

 

[Sean K]

Ahoy there Captain Sean
What are doing up at 4.30 am?
Did you wet your bed?

LOL!

Rough seas last night and I fell out of the hammock. I watched the Jessica Watson movie last night. I followed her journey at the time so I enjoyed it quite a bit. She was beaten down a couple more times than displayed in the movie too.

 

[Sean K]

Pretty compelling case for copper here.

 

[finicky]

Hey that guy on the right looks like you @Sean K. Not that pic where you're campaigning for National Party preselection. He's prbly cradling an Austeyr.

 

[peter2]

Copper prices seem to have respected the prior break out level (near 4.00). Our dear @Captain_Chaza is onto it like a fly on dung. So am I.

 

[Sean K]

Copper prices seem to have respected the prior break out level (near 4.00). Our dear @Captain_Chaza is onto it like a fly on dung. So am I.

View attachment 153757

Just need to be patient with copper plays I think. There's a few who have been hammered during the economic down turn and junior mining spanking over the past year or so, but it could be an incredible opportunity if the fundamental supply/demand narrative is correct. I hope I'm not living in an echo chamber, but the analysts I follow are all pointing to an explosion of the copper price in the next few years once reality hits and we work our way through the wars and recession. It's a buy the dips proposition for me, and less profit taking.

 

[finicky]

Can't make any money out of them it looks like. Operating cashflows consistently outweighed by investing cashflows. Worse than gold mining stocks.
Asks when will BHP get its $9.6B investment in OZL back.

Investing in Copper: A Comprehensive Guide for ASX Investors

A concise copper guide for investors, including a brief overview of the commodity, factors that influence its price, where prices may head in the short-to-medium term and ASX-listed copper companies.

www.marketindex.com.au

 

[Sean K]

Can't make any money out of them it looks like. Operating cashflows consistently outweighed by investing cashflows. Worse than gold mining stocks.
Asks when will BHP get its $9.6B investment in OZL back.

Investing in Copper: A Comprehensive Guide for ASX Investors

A concise copper guide for investors, including a brief overview of the commodity, factors that influence its price, where prices may head in the short-to-medium term and ASX-listed copper companies.

www.marketindex.com.au

View attachment 154497

Yikes! Need copper prices up around $10lb to make a quid.

 

[JohnDe]

Copper is a strange one, for me. It is a very important commodity, but I believe that too many interests mess with pricing and hording. I vaguely remember reports in the late 80's or early 90's (can't remember which) when a huge Japanese group had been storing large quantities of copper and then collapsed and released its stocks onto the world markets. I was only a very young man and just getting my interest in the share markets.

 

[Sean K]

Bellwether copper holding above support zones. Haphazard increasing highs and lows since Jul 22 bottom. Looking positive at the moment to stay steady over $3.75-3.90 zone. ?

On the supply/demand front, it sounds like supply is going to be the biggest problem going forward.

 

[frugal.rock]

Copper behaving in bull market manner. Where's the roof though?

 

[DaveTrade]

A big picture of the US Copper market;

 

[Sean K]

Copper behaving in bull market manner. Where's the roof though?

View attachment 158132

Short term we need to get through this geopolitical security, China pause, increasing debt, inflation and interest rates stuff. Then once the World is back open for business (time?) the supply-demand issue will propel copper onwards and upward to could go anywhere. No new major discoveries and those that have been made are being prevented from coming on because of ESG red/green tape. All spells major increase of the POC in coming years, once the dust settles on point 1.

 

[Telamelo]

Short term we need to get through this geopolitical security, China pause, increasing debt, inflation and interest rates stuff. Then once the World is back open for business (time?) the supply-demand issue will propel copper onwards and upward to could go anywhere. No new major discoveries and those that have been made are being prevented from coming on because of ESG red/green tape. All spells major increase of the POC in coming years, once the dust settles on point 1.

along with 'recession fears' looming to add to the mix

 

[frugal.rock]

Some possible copper related stocks moving today. Hard to find pure plays.

 

[Dona Ferentes]

An off heard lament, and amplified by the spruikers, is the shortage of pure play Cu exposure.


With OZL gone, ASX-focused copper bulls have a choice of Sandfire Resources, whose biggest assets are in non-tier one mining jurisdictions of Spain and Botswana, the underwater (literally, post an extreme rainfall) 29Metals, or a bunch of developers that are yet to make any money.

So, investors that believe in the electrification of just about everything in coming years and want exposure to the key ingredient copper have to buy offshore-listed stocks or something like BHP or Rio Tinto and prepare to be knocked around by the iron ore price.
Mick McMullen and his troop of fellow mining sector veterans – ex-Fortescue Metals boss Nev Power and former Northern Star Resources executive chairman and founding shareholder Bill Beament among them – are trying to change that.

They’ve just acquired CSA Copper Mine near Cobar in western NSW, producing some 40,000 tonnes a year, and are on the hunt for more assets to create the next OZ Minerals. And they are preparing to list on the ASX .

“We are here to grow this business,” McMullen, 52, says. “OZ Minerals has gone from the ASX and left a huge gap. “We are coming, we have already started working on an ASX prospectus and look, we have a board, management team and shareholder base that punches well above the weight of a 40,000 or 50,000 tonnes a year copper producer in Australia.”


Should McMullen’s venture, Metals Acquisition Corp, list as planned in coming months, it will present as a large cap in small-cap clothing and promises not to sit still.

The company is on the lookout for other copper, nickel and zinc mines in Australia, Canada and parts of the United States, trying to pluck unloved projects from big miners – similar to CSA, which was immaterial to its former parent Glencore – and re-energise staff, production and exploration plans to get those assets firing...

...2km deep

 

[greggles]

Another article making the case for a looming copper supply shortage amid rapidly increasing demand.

New copper supply offset by multiple hits to existing operations – Richard Mills

2023.06.17 For years we’ve been reporting on how a decline in productivity from […]

aheadoftheherd.com

 

[Sean K]

They include the fact that deposits are getting pricier and harder to find and dig up, funding is scarce and societies have yet to grasp mining’s role in the shift from fossil fuels.

“We’re heading for a train wreck here,” the founder and executive co-chairman of Ivanhoe Mines said. “My fear is that when push finally comes to shove”, copper can go up 10 times.

Mr Friedland, who made his fortune from Canadian nickel and is behind massive copper finds in Mongolia and the Congo, has long championed the importance of the metal used in everything from wires to weaponry. Some analysts share his concern about a looming copper crunch, but consensus is for far more gradual price gains in the coming years.

 

[DaveTrade]

View attachment 158723


They include the fact that deposits are getting pricier and harder to find and dig up, funding is scarce and societies have yet to grasp mining’s role in the shift from fossil fuels.

“We’re heading for a train wreck here,” the founder and executive co-chairman of Ivanhoe Mines said. “My fear is that when push finally comes to shove”, copper can go up 10 times.

Mr Friedland, who made his fortune from Canadian nickel and is behind massive copper finds in Mongolia and the Congo, has long championed the importance of the metal used in everything from wires to weaponry. Some analysts share his concern about a looming copper crunch, but consensus is for far more gradual price gains in the coming years.

@Sean K for the info on the copper market, I thought it would be good to add a chart to go with it, showing where the market is at the moment;

 

[coindigital]

demand will only keep growing just as its scarcity will increase.